The Sun Daily, Photo Credit to The Sun Daily
clock 05-04-2019
hit 366

RM15m Was Security Deposit for Penang Mega Infrastructure Project

Vizione Holdings Bhd has clarified that the RM15 million reportedly paid out from its wholly owned subsidiary Vizione Construction Sdn Bhd’s account was a security deposit for Package 1 of the Penang Mega Infrastructure (PMI) project, which has been refunded.


It said the money was paid in good faith to a nominee company of Consortium Zenith Construction Sdn Bhd (CZC) in 2017. CZC is the main contractor for the PMI project.

“However, since there was a delay in the Package 1 of the PMI project, the RM15 million security deposit has since been refunded fully by CZC to Vizione Construction in the same year. As a result, Vizione did not suffer any financial impact,” the group said in a statement.

The management of Vizione has denied any knowledge of the case nor the deceiving party.

This was in response to the news carried by local media in a graft probe, pertaining to CZC being deceived into paying RM19 million.

Businessman Datuk Seri G. Gnanaraja pleaded not guilty at the Shah Alam sessions court on Wednesday to three charges of cheating a company director involved in the Penang undersea tunnel project.

He was charged under section 420 of the Penal Code for allegedly cheating CZC executive director Zarul Ahmad Mohd Zulkifli of RM19 million between July and August 2017.

He was said to have misled Zarul into believing that he could help him get the Malaysian Anti-Corruption Commission to drop its money laundering investigations against him.




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